On Thursday, May 13, three life insurance companies, Union Life Insurance Co Ltd (ULI), Gurans Life Insurance Co Ltd (GLICL), and Prime Life Insurance Co Ltd (PLIC), signed a merger agreement aimed at strengthening the company's capital base. This will be the first merger in the country's life insurance sector.

Due to the merger agreement of the three companies, the business operations of all three companies have stagnated. The Nepal Stock Exchange (NEPSE) is blocking the trading of shares in these companies.

After the merger, the company will have a paid-up capital of Rs 7.01 billion, making it the largest life insurance company in Nepal.